Sat, 24 Jan 2026

Sat, 24 Jan 2026 Are things going to get better for your finances?

As Sir Keir Starmer makes the cost of living a government priority, we unpack the impact on family finances.

* Household energy bills: Winter attention falls on household energy bills, but it will be spring when the government's flagship policy kicks in.
* Food prices: The cost of food is an essential spending item, and people on lower incomes feel a larger impact when prices change. Retailers have limited control over factors like weather, harvests, and global market fluctuations.
* Rail fares: The government has frozen rail fares for the first time in 30 years and announced improvements to rail services in northern England.
* Bus fares: A £3 cap on bus fares outside London will remain until March 2027.
* Fuel duty: A temporary cut in fuel duty was extended but will see a staged increase from September.
* Interest rates: The independent Bank of England sets interest rates, not the government.
* Rents: A sharp rise in rents has slowed down, and groups representing landlords are concerned about further tax burdens restricting their ability to offer more homes.
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